SIGMA LITHIUM REPORTS 4Q24 AND FY24 RESULTS: STRONG MARGIN GENERATION, RECORD PRODUCTION AND SIGNIFICANT COST REDUCTIONS

Core Viewpoint - Sigma Lithium Corporation reported strong financial results for the full year 2024, highlighting significant increases in production and sales volumes, improved operational efficiency, and a robust commercial strategy aimed at capitalizing on market trends in the lithium sector [3][4][5]. Financial Performance - The company achieved revenues of US$151.4 million for FY24, with underlying revenues totaling US$180.6 million after excluding non-cash provisional price adjustments [9][10]. - For 4Q24, total revenues reached US$47.3 million, marking a 127% increase compared to 3Q24 [10]. - Adjusted EBITDA for FY24 was US$16.8 million, with an underlying adjusted EBITDA of US$46.0 million, resulting in an adjusted EBITDA margin of 25% [15]. Production and Sales - Sigma Lithium produced 240,828 tonnes of lithium oxide concentrate in FY24, with 77,034 tonnes produced in 4Q24, reflecting a 28% increase in production volumes [8][10]. - The company sold 236,811 tonnes of lithium concentrate in FY24, with 73,900 tonnes sold in 4Q24 [11]. Cost Management - The cash operating margin was reported at 42% for 4Q24, with CIF China cash operating costs decreasing by 17% to US$427 per tonne [5][17]. - All-in sustaining costs (AISC) for 4Q24 were US$592 per tonne, a significant improvement from the FY24 average of US$714 per tonne [18]. Strategic Developments - Sigma Lithium is in the process of constructing a second Greentech Industrial Plant, which is expected to double production capacity to 520,000 tonnes by 2025 [7][23]. - The company has secured a US$100 million development bank credit line from BNDES to fund the construction of the new plant [27]. Technical and Resource Updates - An updated NI 43-101 Technical Report indicated an after-tax NPV of US$5.7 billion for the Grota do Cirilo operations, with a validated operational life of 22 years and a mineral resource estimate of 107 million tonnes [29][34]. - The company's mining resource increased by 23% to 93.2 million tonnes of measured and indicated resources, with proven and probable reserves increasing by 40% to 76.4 million tonnes [31]. Future Outlook - The company expects to produce at least 270,000 tonnes of lithium concentrate in 2025, with a focus on optimizing its commercial strategy to align with seasonal demand [11][13]. - Sigma Lithium aims to maintain a conservative cost guidance for 2025, projecting CIF China cash costs of US$500 per tonne and AISC of US$660 per tonne [19].